COMMODITIES

Standard & Poor's President Deven Sharma

S&P President to Step Down; McGraw-Hill Shows its Regret Over Downgrade

S&P couldn't take back its U.S. debt rating downgrade that rocked global financial markets. Once it was done, it was done. But now we know the agency embroiled in controversy for two weeks since its Aug. 5 downgrade was met with corporate regret. The ratings agency said Tuesday that Deven Sharma, S&P's president since 2007, will sept down. He will be succeeded on Sept. 12 by Citibank Chief Operating Officer Douglas Peterson. The move caps two weeks of controversy that has embroiled the com...

U.S. Postal Service Braced for Massive Cuts

U.S. Postal Service faces doomsday.
Postmaster General Patrick Donahoe is proposing some dramatic changes to cut costs – including the firing of one-fifth of all employees (some 220,000 people) either through layoffs or attrition; the elimination of Saturday mail delivery; and the closing of nearly 4,000 post offices across the country.
At Issue: Oil Prices

Sanders Sponsors Bill to Curb Oil Speculation

U.S. Sen. Bernie Sanders, I-Vt., says speculators have contributed to oil’s high price – hurting the U.S. economy and wreaking havoc on family budgets, and he’s proposed a bill that he believes will help stop it.
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The Apple iPad 2 is shown during its launch event in San Francisco, March 2

HP's TouchPad Couldn't Touch iPad; Could a New Tablet from Amazon?

HP's TouchPad was an OK product according to reviews, but it lived a very short product life because consumers showed a hearty appetite for Apple's tablet-leading iPad. Now, many are asking if Apple's iPad will ever have a worthy competitor. At the moment, however, there's no competitor on the horizon ready to challenge the iPad.
U.S. Job Market

Unemployment Rate Rises in 28 States in July as Companies Adopt Cautious Stance

The unemployment rate rose in more than half of the nation's states in July, as the slowdown in economic growth prompted companies to take a wait-and-see stance regarding new hires. The major period of lay-offs appears to be over, but the hiring has not resumed en masse, which has kept the nation's unemployment rate stubbornly high at 9.1 percent,
U.S. Federal Reserve Chairman Ben Bernanke

Is this the Week Fed Chairman Ben Bernanke Starts QE3?

With the U.S. recovery having slowed considerably, and Europe debt woes persisting, investors will look to Fed Chairman Ben Bernanke's Jackson Hole, Wyo. speech later this week to provide clues regarding the central bank's evaluation of the economy, and at what point it thinks additional stimulus would be needed.
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Oil slips towards $107 on Libya end-game

Brent crude fell by more than a dollar on Monday to around $107 a barrel with traders and investors anticipating the resumption of oil exports from OPEC-member Libya as a six-month civil war there appeared close to an end.
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Oil slips $2 towards $106 on Libya end-game

Brent crude fell almost $2 on Monday toward $106 a barrel with traders and investors anticipating the resumption of oil exports from OPEC-member Libya as a six-month civil war there appeared close to an end.
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Brent drops more than $3, eyes on Libyan oil flow

Brent crude dropped more than $3 on Monday to below $106 a barrel, while U.S. oil fell more than a dollar to below $82, on the potential for a resumption of exports from OPEC-member Libya as a six-month civil war there appeared close to an end.
U.S. Secretary of State Hillary Clinton

U.S. Reiterates Call for Iran to Release American Hikers Bauer, Fattal

U.S. Secretary of State Hillary Clinton Sunday reiterated the nation's call for Iran to immediately release U.S. citizens Shane Bauer and Joshua Fattal, two hikers who were sentenced to eight years in prison, after being imprisoned for more than two years for allegedly trespassing into Iran, which they deny.
Cisco Cius

HP Exits Tablets, Smartphones; Is Cisco Next?

Though Cisco's Cius tablet, created for the enterprise combining voice, video, collaboration and virtualization capabilities in a single portable device, may finally end up as a doctor's device than supporting any generic usage.
Drug shortage

U.S. Vital Medicine Shortage Underscores Need for National Stockpile

U.S. Government officials and Congressional lawmakers, along with drug industry and doctors' groups, are scrambling to find remedies for critical shortages in a number of drugs that treat life-threatening illnesses, including bacterial infection and several forms of cancer.
At Issue: U.S./Global Financial Crisis

NYU’s Nouriel ‘Dr. Doom’ Roubini: Social Unrest Will Spread

Economist Nouriel Dr. Doom Roubini, the NYU professor who 4 years ago accurately predicted the global financial crisis, said U.S./Europe policy makers must invest in a new, smarter social safety net to restore a balance between the free market and public goods. If it doesn’t occur, a systemic flaw will, at minimum, continue to hinder economic recovery.
Stock Market

U.S. Stock Market: Who Has the Upper Hand Now - Bulls or Bears?

To say it's been a discomforting summer for U.S. stock investors would be an understatement. The Dow has been on a wild ride, with large market drops followed by sudden reversals. Look for market choppiness to continue until investors determine whether the Fed's latest monetary policy decision will be enough to rev-up U.S. GDP growth.
U.S. 2012 Election

Rick Perry: Evolution 'Just a Theory’

This week, Gov. Rick Perry has not been able to resist knocking down scientific theories that are considered facts by a good chunk of the modern world. First it was global warming; now, it's evolution.
U.S. Housing Sector

U.S. Housing: Five Tips for Prospective Home Buyers

U.S. mortgage rates are falling to 50-year lows, even as existing home sales remains soft, with both stemming from uncertainty regarding the outlook for the U.S. economy. In this uncertain time, what should prospective home buyers do? Here are five tips that will help you make an informed home purchase decision.
U.S. 2012 Election

Rick Perry: Global Warming Not Proven

Gov. Rick Perry, R-Texas and a candidate for the 2012 Republican nomination for president, said Wednesday he doubts man-made climate change is occurring, and also asserted that some scientists have manipulated the climate change research data to keep the issue alive.
Microsoft CEO Steve Ballmer speaks at the launch of the company's Microsoft 365 cloud service in New York, June 28, 2011.

In Google-Motorola Tie Up, Microsoft Wins

Google has agreed to buy struggling Motorola Mobility for $12.5 billion or $40 a share in cash, making a positive situation for Microsoft as it vies to get back into the mobile phone business.
President Barack Obama

Five Ideas President Obama May Implement to Spur U.S. Job Growth

The details are sketchy about President Barack Obama's September jobs speech, but one thing is certain: as economic manager, Obama must increase job growth substantially in the next nine months to help the millions of Americans who are unemployed find jobs, to strengthen the economy, and to save his presidency.

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